Great West completes offering of Series 24 Preferred Shares

TSX: GWO

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

WINNIPEG, MB, June 22, 2026 /CNW/ - Great-West Lifeco Inc. (TSX: GWO) ("Great West") announced today the closing of its previously announced offering of 8,000,000 5.70% Non-Cumulative First Preferred Shares, Series 24 (the "Series 24 Shares") for gross proceeds of $200 million, which includes the full exercise of the underwriters' option. The offering was completed through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank. The Series 24 Shares will be listed for trading on the Toronto Stock Exchange under the symbol "GWO.PF.A".

The Series 24 Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Series 24 Shares in any state in which such offer, solicitation or sale would be unlawful.

ABOUT GREAT WEST

Great West is a financial services holding company focused on building stronger, more financially secure futures. We operate in the United States, Canada and Europe under the brands Empower, Canada Life and Irish Life. Together we provide wealth, retirement, group benefits and insurance and risk solutions to our approximately 40 million customer relationships. As of March 31, 2026, Great West's total client assets were $3.3 trillion.

Great West trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corporation group of companies. To learn more, visit greatwestlifeco.com.

SOURCE Great-West Lifeco Inc.

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